First Meeting Set for Panel Examining Delaware Revenue

A task force charged with conducting a structural review of Delaware's current revenues is holding its inaugural meeting.

The Structural Revenue Review Committee will meet Friday afternoon at the Buena Vista State Conference Center in New Castle.

Member of the Delaware Economic and Financial Advisory Committee, which approves the state's official revenue forecasts, announced the formation of the review panel last month, saying Delaware faces fundamental limitations that constrain its finances.

The panel, which is to submit a report in the spring, will examine a revenue system that officials suggest relies too heavily on"inelastic" and volatile revenue sources, such as lottery and gambling money and abandoned property collections.

Copyright AP - Associated Press
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